Chapter 994 [Is it true that you can't keep the market at the daily limit? 】
If other companies want to implement a stock repurchase program, they would like to smash their own company's stocks to the floor, and then use the least amount of money to repurchase the most shares from the secondary market.
However, Tiansheng Capital's repurchase program is obviously to repurchase at a high price, and it becomes the main force to increase the stock price.
Since the company has spent money to repurchase shares, it will not pay dividends, because the money spent to repurchase shares is the part that will be distributed as dividends this year. For Tiansheng's shareholders, although they did not receive dividends, asset prices have increased.
, the stock in hand has increased in value significantly.
The reason why Lu Ming did this was actually to help Guo Jia team cash out at a high level, so that he could get more money than dividends, because he could bring up market funds. In the process, it would definitely push up the valuation bubble.
Then the Guo Jia team sold the chips to cash out at this time. You must know that the Guo Jia team had collected a large amount of chips before. These were all real money to receive the chips thrown by the market. It is best to be generous when distributing the chips.
Withdraw profits and distribute chips to other investment institutions in the market.
In this way, it is equivalent to raising a large amount of capital through the capital market and then flowing into the real field.
Because the chips are given to other investors in the market, it is equivalent to locking the liquidity in the hands of other investors in the stock market. Guo Jia team comes out with the liquidity. Whether to support the real economy or something else depends on the specific method.
After configuration, this is not something Lu Ming considers.
Obviously, this can obtain more liquidity than cash dividends. Assuming that the cash dividend Guo Jia team institution can receive 100 billion in cash according to the shareholding ratio, but by cashing out at high levels in the secondary market, it can withdraw 150 billion in liquidity.
Sex, the latter is definitely more cost-effective.
The extra 50 billion is the extra money gained from the expansion of the valuation bubble. Cash dividends cannot earn money from the bubble.
And looking at it from another perspective, this 50 billion is not a bubble, but it is equivalent to Guo Jia team taking away the dividends from other value investors of this stock and spending it.
Due to the implementation of cash dividends, each shareholder account of Tiansheng Capital will receive corresponding dividend funds according to the shareholding ratio.
For example, investor Lao Yang will receive his own portion of the money after dividends are distributed. However, because he does not pay dividends, he uses the money that should be distributed to buy back stocks. Since Lao Yang is a long-term value investor,
He will not sell the stock to cash out.
But Team Guo Jia distributed the chips and cashed out, which is equivalent to Team Guo Jia taking away the portion of the dividend funds belonging to Lao Yang in real money.
He spent it first. What Lao Yang got was just the fictitious floating profit figure reflected in the stock account, but the floating profit is not real money. Only cashing out and pocketing is real money.
Did Lao Yang lose money?
It depends on the situation. If the stock price remains strong and does not plummet after Guo Jia team cashes out on a large scale, Lao Yang will naturally not lose money. If the stock price plummets, Lao Yang will definitely lose money. Specifically, it can be divided into two types: floating loss and actual loss.
situation.
If Lao Yang still holds the shares after the stock price plummets, it will be a floating loss; if he sells after the stock price plummets, he will lose real money because the stock price has fallen and the dividend money has not been received.
Loss, even loss of dividends and loss of money if the stock price falls further.
It can be seen from this that Lu Ming's stock repurchase operation actually indirectly allowed Guo Jiadi to take away and spend the shareholders' money invested in the long-term value of Tiansheng Capital.
But this is not considered to be a shareholder who cheats the price and pushes up the valuation bubble, but as long as it is digested through performance in the future, take Lao Yang as an example. After he gets the dividend money, he often increases his holdings backhand.
If you add Tiansheng stocks, you will be happier if you can get cheaper chips.
For those who are long-term value investors, they will not sell easily anyway. If they hold shares for a long time, there is no need to pay too much attention to short-term price fluctuations.
The difference is nothing more than the difference between "equity thinking" and "cash thinking".
Team Guo Jia needed cash, so he sold his shares.
Value investors believe that stock prices can rise even higher in the future, so they are willing to pay cash in exchange for holding stocks, that's all.
…
"When is the approximate time for the repurchase?" Xue Zhongming couldn't help but ask in the conference room. Although he holds the title of director of Tiansheng Capital, which is a boss-level task outside, the company's actual talking points are
It's Lu Ming, he has the absolute right to speak.
After hearing this, Lu Ming thought for a moment, mentally estimating the time it would take for the United States to fight back, based on when its "aircraft carrier vacuum period" would end.
Most likely it will be next month, June.
In other words, the two sides will have a showdown in June, and the result will determine the future of Tiansheng Capital.
If one side is in an advantageous position or even ends up winning in this battle, Tiansheng's share price can confidently go up, and the company can also spend money to repurchase shares without any scruples, pushing up the share price.
It can be seen that this series of things are not independent, but are deeply related and influence each other. It can be said that one move affects the whole body.
In any case, June is definitely the final decisive moment for this game, and it also determines whether the trend of the A-share market in July will be upward or downward.
At the end, Lu Ming put away his thoughts and said concisely: "The day when you take off your hat is the time to start the buyback."
Tiansheng Holdings is now focusing on the hat of "st" stocks. This hat will have to be worn for a while, no matter what, it will have to be worn until next month.
…
Entering the weekend weekend, during these two days, the news continued to be negative for ST Tiansheng.
On Saturday afternoon, a piece of news reported by foreign media attracted huge attention. According to the foreign news content, Norwegian Wealth Sovereign Finance held a large-scale reduction in the shares of Tiansheng Capital.
The shareholding ratio has dropped from a maximum of 3% of the total share capital to 1.98%. In other words, Norwegian Pension has cashed out more than 150 billion yuan and withdrawn. Such a large-scale reduction of holdings is obviously not optimistic about Tiansheng's future market.
You know, the Norwegian Pension Fund was once praised by investors as a model of real value investment among foreign investors. But as a result, this guy with thick eyebrows and big eyes also chose to run away, and he ran away with an astronomical figure of 150 billion.
It is true that Norwegian Pension has significantly reduced its holdings, but the overall proportion of foreign capital holding Tiansheng Holdings has not actually dropped much, because while foreign institutions like Norwegian Pension continue to withdraw, another foreign investor on Wall Street such as Goldman Sachs
Institutions are entering the market in a big way.
This weekend, Tiansheng Capital also caused huge controversy in the public opinion field because of the agreement reached with North America.
Many ordinary netizens didn't understand. They felt inexplicably frustrated or even angry after reading the news. Some even said that Lu Ming had changed his color and his butt had begun to become crooked.
Many investors have similar mentality, especially when they see that US$340 billion of liquidity is needed to invest in the US stock market, which is 2.38 trillion yuan!
The U.S. stock market was very exciting last Friday, opening sharply higher.
However, Tiansheng Capital did not lie down and do nothing and let the public opinion go on like this. It must do something and immediately began to provide corresponding guidance, including not only letting some writers, experts, commentators, managers Zhongke and other groups analyze it from different angles, or write soft articles, or send interpretation videos, etc.
At the weekend, Lu Ming was also paying attention to the trend of public opinion, and the overall situation was not a big problem.
During tea time, I checked into my social media account and checked the latest comments.
During this period, a large number of fans, especially stock investors, went to his personal social media account to leave messages, saying that Tiansheng was willing to spend US$340 billion to enter the US stock market.
What about Big A?
In the content of the message, investors all hope that Tiansheng Capital should also invest US$300 billion in large A-shares.
When Lu Ming Diving read these comments, he couldn't help but smile and said to himself: "300 billion U.S. dollars, that is more than 2.1 trillion yuan. If you really do this, plus other funds in the market, you will not be able to directly push the market to the limit." ?”
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